The announcement marks the beginning of a fully Autonomous Organization (DAO) marketplace for consumer insurance, made possible through Ethereum smart contracts. The demo app has been specifically developed to work as a smartphone battery insurance highlighting Aigang Protocol, launching on both Apple App Store and Google Play Store. The Aigang app is planned to operate in P2P capacity and as a marketplace for both private investors and insurers, showcasing the potential for simplification of the insurance process. In addition, the app will also offer new users one-month free usage, no long-term contracts and instant payouts.

The unique battery insurance for smartphones is a first of its kind digital insurance and the platform intends to introduce more similar applications in the near future as the technology advances. The company has cleverly innovated its service and used decentralized blockchain technology to bring insurance into the digital age. The insurance protocol is capable of estimating claims through the most recent data and issue payouts instantly.

The Aigang Network has seen a rapid growth this quarter as it has become the world’s first ever consumer insurance to be built on smart contracts. As a result, it is currently in the process of expanding its team of blockchain protocol professionals. The new demo app offers users an understanding of how blockchain technology can enable digital insurance for Internet-of-Things devices. The Aigang Network has also announced more ambitious plans as the company plans to roll out digital insurance for self-driving car and drones in the future.

About Aigang Network

The Aigang Network’s blockchain protocol offers next-generation digital insurance for Internet-of-Things (IoT) devices using Decentralized Autonomous Organization (DAO) and smart contracts. The company is making a huge headway into the InsurTech segment, preparing itself for the new wave of technology changes bound to happen in the near future.

The company cautions the users of its latest demo app. Built on Ethereum testnet, the application is not fully functional yet, and there are chances that the users attempting to send funds from their Ethereum wallet could lose their funds.

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